Are you eligible for this personal financing?

Things you might want to know

What can I do with Alliance Bank CashVantage Personal Financing-i?

If you are at your wit's end over your piling outstanding credit cards and/or personal loan debts with other financial institutions, Alliance Bank CashVantage Personal Financing-i can be used for debt consolidation purpose - make sure you let the bank know your intention to refinance.

Other than that, you can also apply for CashVantage Personal Financing-i to fulfill your personal needs such as for home improvement, purchasing a new vehicle, getting married, or starting a new business - as long as it is reasonable enough for the bank to consider.

For example, if you are 58 years old at the time of CashVantage Personal Financing-i application, you can only borrow for a maximum of 2 years as your loan tenure will cease upon reaching the maximum age.

For a limited time until the 31st October 2017, you can apply any amount between RM5,000 to RM150,000 and borrow for a maximum of 2 years at a flat profit rate of 4.99%p.a.

This promotional profit rate is subject to Alliance Islamic Bank's underwriting criteria and approval, after taking into account your lending profile and credit history. Not all customers will be eligible for this special rate; you may be charged a standard interest rate between 8.38% to 14.78%p.a.

How fast can I get my money?

Once you have furnished Alliance Islamic Bank with completed documents, your CashVantage Personal Financing-i application can be approved and disbursed potentially within 2 to 3 working days. The total amount you borrow will be transferred to the bank account of your choice.

Are there fees and charges I need to pay?

The advantage of CashVantage Personal Financing-i is that there is no processing fee and early exit fee. As for the latter, you only need to give the bank 3 months' written notice or interest rates.

The only fees you are required to pay for is the Stamp Duty of 0.5% and a RM12.72 handling fee (inclusive of 6%GST), which will be deducted from your total borrowed amount.

Who can apply for CashVantage Personal Financing-i?

All Malaysians and permanent resident of Malaysia aged between 21 and 60 years can apply for this Islamic personal loan. You also don't need to standby a collateral or guarantor as this is an unsecured personal financing. To make an application you must provide supporting documents:

Salaried Employee:

Copy of MyKad (front and back)

Copy of Disbursement Account statement / passbook(first page)

Latest 3-months salary slip

Latest 6-months EPF statement; OR

Latest BE form with tax payment receipt

Latest 6-months commission statement (for commission earners)

Self-Employed:

Copy of MyKad (front and back)

Copy of Disbursement Account statement / passbook(first page)

Latest 6-months salary slip OR Company'sbank statement

Latest 6-months EPF statement

Latest B Form with tax payment receipt

How do I improve my credit standing if my CashVantage Personal Financing-i application is rejected?

If you have a poor credit history with other financial institutions, all these information (outstanding credit card, personal loan, home loan or car loan debts) will be captured in CCRIS (a system that collect credit information on borrowers, not blacklisting them).

All you need to do is changing your habit of delaying your instalment payment with any financial institutions moving forwards.

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